Edoma Partners, founded by former Goldman Sachs Group trader Pierre-Henri Flamand, is liquidating after only two years in business.Flamand told the Wall Street Journal that it is shutting down because the fund has been ??unable to make money in the current environment.?
Between its launch in November 2010 and the end of October of this year, the London-based fund has declined 7%. Edoma was the largest European hedge fund to open in 2010 but it has since fallen from its peak of over $2bn to $855m assets under management.
It will take between three to four months for Edoma to return money to investors and to wind down its operations.
Last month two of Edoma's partners already left the firm as part of its plan to cut costs amid investor redemptions.
